MOUNT POLLY PROPERTY

Mount Polley, BC (optioned to Imperial Metals Inc.)

The Mount Polley property is located adjacent to Imperial Metal Corp.’s (“Imperial”) Mount Polley open-pit copper gold mine, which is approximately 100 km northeast of Williams Lake, BC. The claims are subject to a NSR of up to 2%. The Mount Polley property had previously included an additional parcel (₃₇ hectares) that was previously sold to Imperial and over which the Company also retains a royalty. That royalty is $2.50 per tonne for the first 400,000 tonnes of material milled and the $1.25 per tonne for all tonnes milled in excess of 400,000 tonnes. The royalty per tonne in excess of 400,000 tonnes milled can be reduced to $0.62 per tonne by Imperial making a payment of $1 million. The Company is entitled to 90% of the royalty payments.

On October 25, 2019, Commander entered into an option agreement with a wholly owned subsidiary of Imperial granting Imperial the option to earn a 100% interest in certain mineral claims within the Mount Polley copper-gold property. Commander has a 100% interest in the property except a certain portion which is 90% owned by Commander and 10% by an arm’s length private company.

Total cash consideration receivable by Commander is $250,000 with 90% due to Commander and 10% to the private company staged in three payments:

1) $50,000 upon signing ($45,000 received, representing Commander’s 90% interest);
2) $100,000 on or before December 31, 2021; and
3) $100,000 on or before December 31, 2022.